System And Method For Providing An Operator Interface For Displaying Market Data, Trader Options, And Trader Input

ABSTRACT

A system for providing an operator interface for displaying market data, trader options, and trader input includes a memory and a processor. The memory stores market data for a trading product, where the market data includes an inside market price for the trading product. The processor initiates display of a market data section of a tile, where the market data section comprises the market data. The processor initiates display of a trader input section of the tile, where the trader input section comprises options. The processor receives a selection of a bid-offer pair for the trading product from the options, and updates the trader input section to indicate the selected bid-offer pair.

TECHNICAL FIELD

This invention relates generally to the field of operator interfaceprocessing and more specifically to a system and method for providing anoperator interface for displaying market data, trader options, andtrader input.

BACKGROUND

In recent years, electronic trading systems have gained widespreadacceptance for trading a wide variety of items, such as goods, services,financial instruments, and commodities. For example, electronic tradingsystems may be used to trade stocks, fixed income securities,currencies, futures contracts, oil, and gold.

Electronic trading systems may have a number of client systems connectedto a trading platform. A client system may include input devices, suchas keyboards or mouse devices, that may be used to communicate with thetrading system. In some instances, keyboards may be specificallydesigned for use with a trading system.

SUMMARY OF THE DISCLOSURE

In accordance with the present invention, disadvantages and problemsassociated with previous techniques for displaying market data, traderoptions, and trader input may be reduced or eliminated.

According to one embodiment of the present invention, a system fordisplaying market data, trader options, and trader input includes amemory and a processor. The memory stores market data for a tradingproduct, where the market data includes an inside market price for thetrading product. The processor initiates display of a market datasection of a tile, where the market data section comprises the marketdata. The processor initiates display of a trader input section of thetile, where the trader input section comprises options. The processorreceives a selection of a bid-offer pair for the trading product fromthe options, and updates the trader input section to indicate theselected bid-offer pair.

Certain embodiments of the invention may provide one or more technicaladvantages. A technical advantage of one embodiment may be that adisplay has tiles that display information about trading products to atrader. A tile displays market data for a particular trading product.The market data may include a bid quantity, an inside market price, andan offer quantity. The tile also displays options from which the tradermay select to designate desired conditions for initiating a trade forthe trading product. The options may include quantities of and bid-offerpairs for the trading product. The trader may use knobs of a gamecontroller device to make selections. One knob may be used to select aquantity, and another knob may be used to select a bid-offer pair. Thus,the trader may use the tile and the game controller device to easilyselect a quantity and a bid-offer pair for the trading product.

Another technical advantage of one embodiment may be that buttons of thegame controller device may be used to initiate specific types of trades.One button may be used to initiate a bid and/or buy at the quantity andbid-offer pair selected by the trader. Another button may be used toinitiate an offer and/or sell at the quantity and bid-offer pairselected by the trader. Yet another button may be used to initiate a buyat the inside market price. And, yet another button may be used toinitiate a sell at the inside market price. Thus, a trader can readilyinitiate different types of trades using the buttons of the gamecontroller device.

Certain embodiments of the invention may include none, some, or all ofthe above technical advantages. One or more other technical advantagesmay be readily apparent to one skilled in the art from the figures,descriptions, and claims included herein.

BRIEF DESCRIPTION OF THE DRAWINGS

For a more complete understanding of the present invention and itsfeatures and advantages, reference is now made to the followingdescription, taken in conjunction with the accompanying drawings, inwhich:

FIG. 1 illustrates one embodiment of an electronic trading system;

FIG. 2 illustrates an example of a display that includes a tile for usein the system of FIG. 1;

FIG. 3 illustrates an example of a game controller device for use in thesystem of FIG. 1; and

FIG. 4 illustrates one embodiment of a method for displaying one or moretiles.

DETAILED DESCRIPTION OF THE DRAWINGS

Embodiments of the present invention and its advantages are bestunderstood by referring to FIGS. 1 through 4 of the drawings, likenumerals being used for like and corresponding parts of the variousdrawings.

FIG. 1 illustrates one embodiment of an electronic trading system 10operable to facilitate trading for traders 24. System 10 includes aclient system 12, a trading platform 14, and a network 16, coupled asshown. Client system 12 includes interface devices 28 (such as a gamecontroller device 36 and a display device 32) and a client platform 34.Client platform 34 includes a processor 46 and a memory 48.

In one example, client system 12 generates a display 11 that has tiles13 that display information describing trading products. A tile 13displays market data 15 for a trading product. Market data 15 isreceived in near real-time from a market data center and provides nearreal-time information for tile 13. Market data 15 may include a bidquantity, an inside market price, and an offer quantity.

Tile 13 also displays options 19 from which trader 24 may select todesignate desired conditions for initiating a trade. The options mayinclude quantities and bid-offer pairs for the trading product. Trader24 uses knobs of game controller device 36 to make selections. One knobmay be used to select a quantity, and another knob may be used to selecta bid-offer pair.

Trader 24 may monitor market data 15, and may decide to initiate a tradein response to market data 15. Trader 24 uses buttons of game controllerdevice 36 to initiate specific types of trades. One button may be usedto initiate a bid and/or buy at the quantity and bid-offer pair selectedby trader 24. Another button may be used to initiate an offer and/orsell at the quantity and bid-offer pair selected by trader 24. Yetanother button may be used to initiate a buy at the inside market price.And, yet another button may be used to initiate a sell at the insidemarket price. Although this description is explained with respect toknobs and buttons of game controller device 36 to perform particularactions, these actions may be performed using any suitable number andcombination of knobs, buttons, or other portions of device 36.

Accordingly, trader 24 may readily read the bid quantity, the insidemarket price, and the offer quantity for a trading product from tile 13.In addition, trader 24 may use tile 13 and game controller device 36 toeasily select a quantity and a bid-offer pair for the trading product.Furthermore, trader 24 may use specific knobs and/or buttons of gamecontroller device 36 to initiate specific types of trades.

According to one embodiment, traders 24 may represent users of tradingsystem 10 capable of placing and/or responding to trading orders 17. Atrader 24 may represent a principal, an agent acting on behalf of aprincipal, an individual, a legal entity (such as a corporation), or anymachine or mechanism that is capable of placing and/or responding totrading orders 17.

A trading order 17 may represent an order to buy or sell a particularamount of a particular trading product. A trading product may refer toany suitable product or combination of products that forms the basis ofa given trading order 17. Examples of trading products may include anytype of goods, services, financial instruments, commodities, equities,stocks, fixed income securities, interest rate derivatives, currencies,futures contracts, debentures, options, securities, derivative tradinginstruments, or any other suitable product or combination of products.

A client system 12 may represent any suitable end-user element that maybe used to access one or more elements of trading system 10, such astrading platform 14. Examples of an end-user element include a computer,a workstation, a telephone, an Internet browser, an electronic notebook,a personal digital assistant (PDA), a pager, or any other suitabledevice (wireless or otherwise) capable of receiving, processing,storing, and/or communicating information with other components ofsystem 10.

Client system 12 may include interface devices 28 and a client platform34. An interface device 28 may represent any suitable device operable tocommunicate signals to and/or from client platform 34 via a wired and/ora wireless link. Examples of interface devices 28 may include inputdevices, output devices, and/or input/output devices.

Examples of input devices include a game controller device 36, akeyboard, a mouse, a microphone, and/or another end-user element. Gamecontroller device 36 represents any suitable input device thatcommunicates with client platform 34. Examples of game controllerdevices 36 include video game controllers such as a joystick or agamepad. An example of an output device includes a display device 32that displays output information in a display 11. Examples of displaydevices 32 include a computer display, a CRT monitor, or a television.

Client platform 34 includes a processor 46 and a memory 48 coupled asshown. Processor 46 comprises any suitable combination of hardwareand/or software to perform the functions described herein, includingprocessing data associated with trading system 10, which may involveexecuting coded instructions associated with interface application 50.

Memory 48 comprises any suitable combination of volatile and/ornon-volatile memory that stores and/or facilitates retrieval ofinformation. Memory 48 may store interface application 50. Interfaceapplication 50 comprises an application that allows interface devices 28to receive and/or transmit information. For example, interfaceapplication 50 may include a graphical user interface (GUI) applicationthat generates display 11 on display device 32. In the example,interface application 50 may change display 11 in response to commandsfrom interface devices 28 and/or trading platform 14. In the example,interface application 50 may also send messages to interface devices 28and/or trading platform 14 in response to commands from interfacedevices 28 and/or trading platform 14.

In the illustrated embodiment, interface application 50 includes amapping module 80. Mapping module 80 maps signals received frominterface devices 28 and/or trading platform 14 with commands of tradingsystem 10. In one example, a signal may be sent by trader 24 moving ajoystick, pressing a button, and/or performing any other manipulation ofan interface device 28. In the example, a command may comprise a systemcommand and/or a trading command. A system command may be used to alterdisplay 11, for example, to move a cursor. A trading command may becommunicated to or from trading platform 14 to, for example, initiateand/or process a trade.

Signal relationships may be used to associate a signal with a command.As an example, a manipulation (such as moving a joystick) may beassociated with one command (such as moving a cursor). As anotherexample, multiple manipulations (such as moving a joystick and pressinga button) may be associated with one command (such as sending a tradingorder request). As another example, a manipulation (such as pressing abutton) may be associated with multiple commands (such as sending atrading order request and updating a display).

Trading platform 14 may represent a trading architecture thatfacilitates the processing of trading orders 17. Trading platform 14 maybe configured at a management center or a headquartering office for anyperson, business, or entity that seeks to manage the trading of orders.Trading platform 14 may include any suitable combination of logic,personnel, devices, or entities that may be utilized to perform theoperations of an administrative body or a supervising entity thatmanages or administers a trading environment.

A network 16 may represent a communication platform operable to exchangeinformation. A communication network may comprise at least a portion ofa plain old telephone system (POTS), a public switched telephone network(PSTN), a public or private data network, a local area network (LAN), ametropolitan area network (MAN), a wide area network (WAN), a local,regional, or global communication or computer network such as theInternet, a wireline or wireless network, an enterprise intranet, othersuitable communication link, or any combination of the preceding.

Modifications, additions, or omissions may be made to trading system 10without departing from the scope of the invention. The components oftrading system 10 may be integrated or separated according to particularneeds. Moreover, the operations of trading system 10 may be performed bymore, fewer, or other modules.

FIG. 2 illustrates an example of a display 11 that includes one or moretiles 13. According to one embodiment, a tile 13 may include a marketdata section 114 and a trader input section 118. Market data section 114may display real-time market data 15. Market data 15 may be received inreal-time or near real-time and may include current and/or historicalmarket information such as trade volumes, trading conditions, tradingvolumes, numbers of outstanding trading orders 17, bid/offer prices,market prices, yield spreads, trends, and so forth.

According to the illustrated embodiment, market data section 114includes an inside market price 122, a bid quantity 124, and an offerquantity 126 for a trading product. Bid quantity 124 is the quantity ofthe best bid for the trading product. Offer quantity 126 is the quantityof the best offer for the trading product. The inside market pricerepresents the bid price of the best bid and the offer price of the bestoffer.

Trader input section 118 displays trader input that is input by a usersuch as trader 24. Examples of trader input include a quantity of thetrading product and an input bid-offer pair for the trading product. Atrader bid-offer pair comprises a bid price and an offer pricedesignated by a trader 24.

According to the illustrated embodiment, trader input section 118includes options 140 and selection boxes 144. Options 140 includenumbers that may be selected by trader 24, and selection boxes 144 areused to indicate the selected numbers. According to the illustratedembodiment, trader input section 118 includes bid-offer pair options 140a and quantity options 140 b. A bid-offer pair selection box 144 a mayindicate a bid-offer pair selected by trader 24, and a quantityselection box 144 b may indicate a quantity selected by trader 24.

According to one embodiment, trader 24 may use game controller device 36to move selection box 144 to options 140 that trader 24 would like toselect. Trader 24 may move selection box 144 to the right or left ofoptions 140 until an appropriate number is selected. A first selectionbox 144 a may be moved to select a bid-offer pair, while a secondselection box 144 b may be moved to select a quantity. Although options140 a and 140 b are illustrated in a horizontal arrangement, anysuitable orientation of options 140 a and 140 b may be used.

Accordingly, trader 24 may readily read the bid quantity, the insidemarket price, and the offer quantity for a trading product from tile 13.In addition, trader 24 may use tile 13 and game controller device 36 toeasily select a quantity and a bid-offer pair for the trading product.

Modifications, additions, or omissions may be made to display 11 withoutdeparting from the scope of the invention. Display 11 may include more,less, or other data. Additionally, the data may be arranged in anysuitable manner without departing from the scope of the invention.

FIG. 3 illustrates an example of game controller device 36. Gamecontroller device 36 may include one or more knobs 154 and one or morebuttons 158. In one embodiment, a trader 24 may manipulate knobs 154 andbuttons 158 to initiate specific commands. Examples of manipulations mayinclude depressing, lifting, translating, and/or rotating knobs 154and/or buttons 158.

A knob 154 may be used to select an option 140 and may include anysuitable device part, for example, a button, a joystick, or other typeof part operable to move selection box 144 to an option 140. Anysuitable number of knobs 154 may be used to select numbers. According toone embodiment, a particular knob 154 may be designated to selectnumbers from specific options 140. In the illustrated example, knob 154a may be used to select from options 140 a, and knob 154 b may be usedto select from options 140 b. According to another embodiment, one knob154 may be used to select among multiple sets of options 140. As anexample, a joystick may be used in a first direction, for example, in anup-down direction to select a particular set of options 140. Thejoystick may then be moved in a second direction, for example, aleft-right direction, in order to select particular numbers of theparticular options 140.

A button 158 may be used to send a request that initiates a trade. Atrade may refer to a procedure for placing and/or responding to atrading order 17. Examples of trades include a bid, buy, offer, sell,buy at market price, or sell at market price procedure. A bid procedureplaces a bid for a trading product; a buy procedure places a buy orderto buy a trading product; an offer procedure places an offer for atrading product; a sell procedure places a sell order to sell a tradingproduct; a buy at market price procedure places a buy order to buy atrading product at the market price; and a sell at market priceprocedure places a sell order to sell a trading product at the marketprice.

Any suitable number of buttons 158 may be used to initiate any suitabletrades. According to the illustrated embodiment, button 158 a may beused to initiate a bid and/or buy procedure; button 158 b may be used toinitiate an offer and/or sell procedure; button 158 c may be used toinitiate a buy at market price procedure; and button 158 c may be usedto initiate a sell at market price procedure.

Accordingly, trader 24 may use knobs 154 of game controller device 36 toeasily select a quantity and a bid-offer pair for a trading product.Furthermore, trader 24 may use specific buttons 158 of game controllerdevice 36 to initiate different types of trades.

Modifications, additions, or omissions may be made to game controllerdevice 36 without departing from the scope of the invention. Thecomponents of game controller device 36 may be integrated or separatedaccording to particular needs. Moreover, the operations of gamecontroller device 36 may be performed by more, fewer, or other knobs 154and/or buttons 158.

FIG. 4 illustrates one embodiment of a method for displaying one or moretiles 13. The method begins at step 210, where interface application 50receives market data 15 from trading platform 14. Market data 15 mayinclude, for example, inside market price 122, bid quantity 124, andoffer quantity 126 for a trading product. Interface application 50initiates display of market data 15 in market data section 114 of tile13 at step 214.

Interface application 50 initiates display of options 140 in traderinput section 118 at step 218. Options 140 may include bid-offer pairoptions 140 a and quantity options 140 b. Interface application 50receives trader 24's selection of options 140 at step 222. Trader 24 mayuse knobs 154 of game controller device 36 to make the selections. Forexample, trader 24 may select bid-offer pair 11/11+ and quantity 5.

Updating of trader input section 118 is initiated at step 226 to displaythe selections. Trader input section 118 may be updated by maneuveringselection boxes 144 around the selected options 140. For example,selection box 144 a may be placed at 11/11+ and selection box 144 b maybe placed at 5.

A request for a trade is received at step 230. Trader 24 may use buttons158 of game controller device 36 to make the request. The trade isinitiated at step 234. The trade may be initiated by forwarding therequest to trading platform 14. After initiating the trade, the methodterminates.

Modifications, additions, or omissions may be made to the method withoutdeparting from the scope of the invention. The method may include more,fewer, or other steps. Additionally, steps may be performed in anysuitable order without departing from the scope of the invention.

While this disclosure has been described in terms of certain embodimentsand generally associated methods, alterations and permutations of theembodiments and methods will be apparent to those skilled in the art.Accordingly, the above description of example embodiments does notconstrain this disclosure. Other changes, substitutions, and alterationsare also possible without departing from the spirit and scope of thisdisclosure, as defined by the following claims.

1. A system for providing an operator interface for displaying marketdata, trader options, and trader input, the system comprising: a memoryoperable to: store market data for a trading product, the market datacomprising an inside market price for the trading product; and aprocessor in communication with the memory and operable to: initiatedisplay of a market data section of a tile of one or more tiles, themarket data section comprising the market data; initiate display of atrader input section of the tile, the trader input section comprising aplurality of options; receive a selection of a bid-offer pair for thetrading product from the plurality options; and update the trader inputsection to indicate the selected bid-offer pair.
 2. The system of claim1, wherein the market data further comprises a bid quantity and an offerquantity for the trading product.
 3. The system of claim 1, theprocessor further operable to: receive a selection of a quantity of thetrading product from the plurality options; and update the trader inputsection to indicate the selected quantity.
 4. The system of claim 1, theprocessor further operable to initiate a trade in response to receivinga request from a game controller device.
 5. The system of claim 1,further comprising a game controller comprising: one or more knobs, aknob operable to select an option from the plurality of options.
 6. Thesystem of claim 1, further comprising a game controller comprising aplurality of buttons, a button operable to initiate at least one of thefollowing: a bid; a buy; an offer; a sale; a buy at market price; and asale at market price.
 7. Software embodied in a computer-readablestorage medium and operable when executed by a processor to: initiatedisplay of a market data section of a tile of one or more tiles, themarket data section comprising market data for a trading product, themarket data comprising an inside market price for the trading product;initiate display of a trader input section of the tile, the trader inputsection comprising a plurality of options; receive a selection of abid-offer pair for the trading product from the plurality options; andupdate the trader input section to indicate the selected bid-offer pair.8. The software of claim 7, wherein the market data further comprises abid quantity and an offer quantity for the trading product.
 9. Thesoftware of claim 7, further operable to: receive a selection of aquantity of the trading product from the plurality options; and updatethe trader input section to indicate the selected quantity.
 10. Thesoftware of claim 7, further operable to initiate a trade in response toreceiving a request from a game controller device.
 11. The software ofclaim 7, further operable to receive a signal from a game controllercomprising: one or more knobs, a knob operable to select an option fromthe plurality of options.
 12. The software of claim 7, further operableto receive a signal from a game controller comprising a plurality ofbuttons, a button operable to initiate at least one of the following: abid; a buy; an offer; a sale; a buy at market price; and a sale atmarket price.
 13. A method, comprising: initiating display of a marketdata section of a tile of one or more tiles, the market data sectioncomprising market data for a trading product, the market data comprisingan inside market price for the trading product; initiating display of atrader input section of the tile, the trader input section comprising aplurality of options; receiving a selection of a bid-offer pair for thetrading product from the plurality options; and updating the traderinput section to indicate the selected bid-offer pair.
 14. The method ofclaim 13, wherein the market data further comprises a bid quantity andan offer quantity for the trading product.
 15. The method of claim 13,further comprising: receiving a selection of a quantity of the tradingproduct from the plurality options; and updating the trader inputsection to indicate the selected quantity.
 16. The method of claim 13,further comprising initiating a trade in response to receiving a requestfrom a game controller device.
 17. The method of claim 13, furthercomprising receiving a signal from a game controller comprising: one ormore knobs, a knob operable to select an option from the plurality ofoptions.
 18. The method of claim 13, further comprising receiving asignal from a game controller comprising a plurality of buttons, abutton operable to initiate at least one of the following: a bid; a buy;an offer; a sale; a buy at market price; and a sale at market price. 19.A system, comprising: means for initiating display of a market datasection of a tile of one or more tiles, the market data sectioncomprising market data for a trading product, the market data comprisingan inside market price for the trading product; means for initiatingdisplay of a trader input section of the tile, the trader input sectioncomprising a plurality of options; means for receiving a selection of abid-offer pair for the trading product from the plurality options; andmeans for updating the trader input section to indicate the selectedbid-offer pair.
 20. A system, comprising: a memory operable to: storemarket data for a trading product, the market data comprising an insidemarket price for the trading product, the market data further comprisinga bid quantity and an offer quantity for the trading product; and aprocessor in communication with the memory and operable to: initiatedisplay of a market data section of a tile of one or more tiles, themarket data section comprising the market data; initiate display of atrader input section of the tile, the trader input section comprising aplurality of options; receive a selection of a bid-offer pair for thetrading product from the plurality options; and update the trader inputsection to indicate the selected bid-offer pair; receive a selection ofa quantity of the trading product from the plurality options; update thetrader input section to indicate the selected quantity; and initiate atrade in response to receiving a request from a game controller device,the game controller comprising: one or more knobs, a knob operable toselect an option from the plurality of options; and a plurality ofbuttons, a button operable to initiate at least one of the following: abid; a buy; an offer; a sale; a buy at market price; and a sale atmarket price.